David Nugent & Co Limited,Ltd - AccountsLtd - Accounts

David Nugent & Co Limited,Ltd - AccountsLtd - Accounts

DAVID NUGENT & CO LIMITED - Company Information

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2016-06-01 06501557 2017-05-31 06501557 2016-06-01 2017-05-31 06501557 2016-05-31 06501557 2015-06-01 2016-05-31 06501557 uk-core:WithinOneYear 2016-05-31 06501557 uk-core:WithinOneYear 2017-05-31 06501557 uk-core:ShareCapital 2017-05-31 06501557 uk-core:ShareCapital 2016-05-31 06501557 uk-core:RetainedEarningsAccumulatedLosses 2017-05-31 06501557 uk-core:RetainedEarningsAccumulatedLosses 2016-05-31 06501557 uk-bus:Director1 2016-06-01 2017-05-31 06501557 uk-core:NetGoodwill 2016-06-01 2017-05-31 06501557 uk-core:ToolsEquipment 2016-06-01 2017-05-31 06501557 uk-core:MotorCars 2016-06-01 2017-05-31 06501557 uk-core:Goodwill 2016-05-31 06501557 uk-core:Goodwill 2017-05-31 06501557 uk-core:Goodwill 2016-06-01 2017-05-31 06501557 uk-core:ToolsEquipment 2016-05-31 06501557 uk-core:MotorCars 2016-05-31 06501557 uk-core:MotorCars 2017-05-31 06501557 uk-core:ToolsEquipment 2017-05-31 06501557 uk-core:WithinOneYear 2016-06-01 2017-05-31 iso4217:GBP 06501557 uk-bus:AuditExemptWithAccountantsReport 2016-06-01 2017-05-31 06501557 uk-bus:FRS102 2016-06-01 2017-05-31 06501557 uk-bus:FullAccounts 2016-06-01 2017-05-31 06501557 uk-bus:PrivateLimitedCompanyLtd 2016-06-01 2017-05-31
David Nugent & Co Limited
Registered Number:06501557
For the year ended 31 May 2017
England and Wales
Unaudited Financial Statements
2
For the year ended 31 May 2017
David Nugent & Co Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 31 May 2017
David Nugent & Co Limited
Statement of Financial Position
Registered Number :
06501557
£
£
2016
2017
Notes
Fixed assets
Intangible assets
33,000
44,000
2
Property, plant and equipment
10,484
12,876
3
43,484
56,876
Current assets
Trade and other receivables
23,322
24,671
4
11,479
Cash and cash equivalents
10,289
34,960
34,801
Trade and other payables: amounts falling due within one
year
(28,822)
(26,964)
5
5,979
7,996
Net current assets
Total assets less current liabilities
51,480
62,855
51,480
Net assets
62,855
Capital and reserves
Called up share capital
1
1
Retained earnings
51,479
62,854
51,480
62,855
Shareholders' funds
For the year ended 31 May 2017 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2017 in accordance with Section 476 of the Companies Act 2006
The director acknowledges his responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
Mr David Nugent Director
These financial statements were approved and authorised for issue by the Board on 28 February 2018 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 May 2017
David Nugent & Co Limited
Notes to the Financial Statements
Statutory Information
David Nugent & Co Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 06501557.
Registered address:
The Counting House
4A Moss Lane
Swinton
Manchester
M27 9SA
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of 10 years.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
15 Reducing balance
Computer equipment
25 Reducing balance
Motor vehicles
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.
Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme for the benefit of its directors/and employees. Contributions payable are charged to the profit and loss account in the period in which they are payable.
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5
For the year ended 31 May 2017
David Nugent & Co Limited
Notes to the Financial Statements Continued
2. Intangible fixed assets
Goodwill
Cost or valuation
£
At 01 June 2016
110,000
At 31 May 2017
110,000
Amortisation
At 01 June 2016
66,000
11,000
Charge for year
At 31 May 2017
77,000
Net book value
At 31 May 2017
33,000
At 31 May 2016
44,000
3. Property, plant and equipment
Total
Computer
equipment
Motor vehicles
£
£
£
Cost or
valuation
At 01 June 2016
26,736
13,236
13,500
356
356
-
Additions
At 31 May 2017
13,500
13,592
27,092
Provision for depreciation and impairment
At 01 June 2016
13,860
7,954
5,906
Charge for year
2,748
849
1,899
At 31 May 2017
16,608
8,803
7,805
At 31 May 2017
Net book value
5,695
4,789
10,484
At 31 May 2016
7,594
5,282
12,876
4. Trade and other receivables
2016
2017
£
£
Trade debtors
12,976
16,288
Other debtors
11,695
7,034
23,322
24,671
3 of 4
6
For the year ended 31 May 2017
David Nugent & Co Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due within one year
2016
2017
£
£
Trade creditors
14,019
13,258
Taxation and social security
10,022
10,547
Other creditors
2,923
5,017
26,964
28,822
Included within other creditors is an amount owing to the director, of £1,818. This loans is interest free and repayable on demand.
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